Trying to stay out of trouble
With a volatile stock market, you just never know when its going to end. As I have stated numerous times I am not a day trader, but with the recent situations and returns I have saw I decided to give it a little try somewhat. Through these troubling times, I have kept positions on my main holdings or stocks I really like (key holdings) and just don’t want to let go. I will let those just work its course and hopefully one day come out on top. In the mean time I need to make sure I make “guaranteed” money. This has led me to enter in and out of position much faster then I normally do.
Since most of my trades, up to now, have involved a more long term picture, I wasn’t quite sure if the same theories or practices would work, but what do I have to lose (other then money).
Currently my main strategy (the broad version) involves:
- Finding some quick great plays
- Getting in and out of them
- At the end of the day if any of my key stocks are down I might take the money I have made and build up my position in a key holding that has gone down.
With my key holdings, I might also use my shares, wait for it to go up (if it does), and then sell, while hoping it will go down and I can rinse and repeat tomorrow. So far it has worked out for me (knock on wood).
So not the most technically sound system, but oh well. I wouldn’t recommend it, but sometimes you just gotta do what you gotta do.